Bangkok Bank and KTB, two of Thailands leading banks have just slapped a 150baht fee for every transaction from one of their ATM machines when you use a foreign bank card. This means that if you take 500 baht out (£10) you will be charged by your bank for using a foriegn ATM, about £1.25 and then a £3 charge by the Thai banks. 'Kin hell!!!!!
The Thai banks have said this is down to Mastercard and Visa putting up their rates, however Mastercard say the increase which is the first in some years is only 0.02% of the old charge. This works out that Mastercard charge the Thai banks about 21baht per transaction.
This is just another example of Thai companies charging more when the chips are down, things like if your restaurant numbers are down put up prices or your bar is down on takings put the price of the beer up. This is in contrast to the western style of cutting prices and increasing service levels to attract dwindling customers.
Oh well!
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